Bank deposit

Interest is paid for the selected period of time, and not for each month of the selected period of time, i.e. if a deposit of 6% is selected for 1 month, then they will pay 6% of the deposit amount at the end of the month, and if a deposit of 7.8% is selected for 4 months, then they will pay 7.8% of the deposit amount after four months, and not 7, 8% for every month.

Example: 10,000 rubles x 6% = 600 rubles income. If you invest 10,000 rubles at 6% per annum for 4 months, you will receive 200 rubles of income.

If you invest for 4 months at 7.8%, you get 260 rubles for all 4 months.

In the bank deposit agreement, the bank, which accepted the money received from the depositor, shall return the deposit amount and pay interest on it on the terms and in the manner provided by the agreement ^[1] . The condition of the agreement on the refusal of a citizen from the right to receive a deposit upon request is void ^[2] . Interest on the amount of a bank deposit is calculated from the day following the day it is received by the bank, up to and including the day it is returned to the depositor or until the depositor closes the deposit early. As a rule, the depositor has the opportunity to manage the accrued interest: either withdraw them after the interest payment periods specified in the contract or add them to the total deposit amount ( interest capitalization ), increasing the deposit amount for which interest is accrued ^[3] .

In periods of normal economic development, a bank deposit is one of the least profitable and least risky forms of investing money and can serve as a minimum benchmark in the calculations.

• Demand deposit - a deposit without an indication of the storage period, which is returned at the first request of the depositor. Typically, interest is accrued on savings deposits at rates lower than those for term deposits. A demand deposit may, by agreement with the bank or according to the laws of individual states, be funds on a checking account with a bank.
• Term deposit - an interest-bearing deposit made for a specified period and withdrawn completely after the expiration of the stipulated term. Time deposits are less liquid than demand deposits, but bring a higher percentage of income .

The fixed-term contribution, according to their purpose, is divided into ^[4] :

• A savings deposit is the simplest subspecies of a fixed-term deposit, under the terms of which the operations of replenishing the deposit and withdrawing any amounts are prohibited.
• Cumulative contribution - with the possibility of replenishing the deposit during the entire term of the contract.
• Settlement deposit (Universal deposit) - with the ability to control the deposit and conduct expenditure transactions.

Deposit insurance implies that in the event of bankruptcy, an individual fully or partially receives funds invested in this bank as soon as possible. Payments are made by special funds created at the expense of banks and (or) the state.

The first deposit insurance system was created in the USA in 1933, the oldest deposit insurance management system is the Federal Bank Deposit Insurance Corporation (FDIC).

According to the International Association of Deposit Insurers (IADI), deposit insurance systems operate in more than 100 countries. In Europe, each EU member country controls the creation and operation of one or more deposit guarantee systems on its territory (Directive of the European Parliament and of the Council on Deposit Guarantee Systems, 1995). Not a single financial institution with a banking permit can accept deposits without being a member of one of these systems.

In Russia, the Federal Law “On Personal Deposit Insurance with Banks of the Russian Federation” entered into force on December 27, 2003 ^[5] . If the bank is a member of the deposit insurance system , then in case of revocation of the license for banking activities of the bank, the state guarantees individuals a refund of up to 1,400,000 rubles ^[6] .

If the charter of the company prohibits placing funds in deposits, it is possible to issue a bill . It is a veiled form of deposit. Or sign an agreement on a minimum balance in the current account with interest accrual.

Commercial banks are required to transfer to the central bank a portion of the money deposited. This is the required reserve ratio (reserve rate).

Deposit Taxation

With respect to income in the form of interest received on deposits with banks, the tax base is defined as the excess of the amount of interest accrued in accordance with the terms of the agreement over the amount of interest calculated on ruble deposits based on the refinancing rate of the Central Bank of the Russian Federation increased by five percentage points valid for the period for which the indicated interest is accrued, and for deposits in foreign currency based on 9 percent per annum, unless otherwise provided by this chapter ^[7] . This rule does not apply if the ruble deposit, at the time the deposit was opened, the refinancing rate increased by five percentage points exceeded the deposit rate, the deposit rate did not change and from the last excess of the deposit rate over the refinancing rate increased by five percentage points, no more than 3 years When all these conditions are met, the tax on income from the deposit is not levied ^[8] .

Bank deposit is the most understandable ^[10] , the most popular investment tool for Russian citizens. According to the Rosgosstrakh Insurance Center , in 2011, 12% of families showed interest in opening a ruble deposit (in addition to existing investment instruments), and 2% in opening a foreign currency deposit ^[11] .

• Savings account
• The depreciated savings of citizens of the USSR

• Alexander Turbanov, Alexander Tyutyunnik. Banking. Operations, technology, management. - M .: Alpina Publisher , 2010. - 688 p. - ISBN 978-5-9614-1082-2 .

• Banking Statistics Bulletin . TSB RF. No. 3 (190). year 2009.
• How to get compensation for the Soviet deposit?